Press Releases

The Reserve Bank of India has on August 21, 2007 cancelled the certificate of registration granted to Maltrikrishna Finance Limited, having its registered office at Anuratna Commercial Complex, 5th Floor, Dwarakanagar, 4th Lane, Visakhapatnam 530016 for carrying on the business of a non-banking financial institution as the company has opted to exit from the business of a Non-Banking Financial Institution. Following cancellation of registration certificate, Maltrikrishna Finance Limited cannot transact the business of a non-banking financial institution.

Under powers conferred by Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of a non-banking financial company. The business of a non-banking financial institution is defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.